Details:
Asset: Reliance Industries Ltd (RELIANCE)
Breakdown Level: 1535
Potential Targets: 1470, lower levels if selling pressure continues
Stop Loss: 1570
Timeframe: Short-term
Rationale:
Reliance has broken below the key channel support at 1535, indicating a shift toward bearish momentum. If the price continues to sustain below this level, further downside toward 1470 or even lower levels is likely.
Market Analysis:
Technical Setup: Clean channel breakdown with strong bearish candles forming.
Momentum: Weakness observed across multiple timeframes, confirming selling pressure.
Risk Management:
Stop loss at 1570 to avoid getting trapped in any pullback.
Risk-Reward Ratio:
Favorable for short positions with clear breakdown and defined targets.
Monitor for continued weakness and volume confirmation to validate the bearish move.
Asset: Reliance Industries Ltd (RELIANCE)
Breakdown Level: 1535
Potential Targets: 1470, lower levels if selling pressure continues
Stop Loss: 1570
Timeframe: Short-term
Rationale:
Reliance has broken below the key channel support at 1535, indicating a shift toward bearish momentum. If the price continues to sustain below this level, further downside toward 1470 or even lower levels is likely.
Market Analysis:
Technical Setup: Clean channel breakdown with strong bearish candles forming.
Momentum: Weakness observed across multiple timeframes, confirming selling pressure.
Risk Management:
Stop loss at 1570 to avoid getting trapped in any pullback.
Risk-Reward Ratio:
Favorable for short positions with clear breakdown and defined targets.
Monitor for continued weakness and volume confirmation to validate the bearish move.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.